The production possibilities curve shows:
A. the minimum amount of one good that can be produced for every possible production level of the other good.
B. the maximum amount of one good that can be produced for every possible production level of the other good.
C. how increasing the resources used to produce one good increases the production of the other good.
D. how increasing the production of one good allows production of the other good to also rise.
Answer: B
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According to the new growth theory, which of the following promote economic growth?
i. discoveries that bring profit ii. choices that expand human capital iii. random events that create technology change A) i and ii B) i only C) i, ii and iii D) i and iii E) ii only
You put money into an account. One year later you see that you have 6 percent more dollars and that your money will buy 2 percent more goods
a. The nominal interest rate was 8 percent and the inflation rate was 6 percent. b. The nominal interest rate was 6 percent and the inflation rate was 4 percent. c. The nominal interest rate was 4 percent and the inflation rate was 2 percent. d. None of the above is correct.